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Heh, Fred is under an assumption that all these bankers have the skills necessary to run a startup. He couldn't be further from the truth.
by nickb 18y ago
Heh, Fred is under an assumption that all these bankers have the skills necessary to run a startup. He couldn't be further from the truth.
- time_management 18y agoQuants tend to be reasonably exposed, in terms of programming ability, and smart enough that they can pick up new languages quickly (necessary, as they're often used to crappy languages like C++). Laid-off IBD/M&A analyst types are screwed, though, because they're pretty useless.
- nickb 18y agoNot many quants will remain jobless on Wall Street. Most have already moved to new jobs.
- kds 18y agoThis is quite right. These "bankers" won't be running hacker startups and the main reason is not their lack of technical ability but rather the "cultural" attitude in many of them that doing anything else (besides working in big finance) is a failure and a proof they are not that smart. Of course, there is always room for a few exceptions.